DBRS has announced that it:
has today upgraded the rating of Class C Preferred Shares, Series 1 (the Preferred Shares) issued by 5Banc Split Inc. (the Company) to Pfd-2 (high).
…
As of November 3, 2016, the downside protection was approximately 72%. Based on the dividend yield on the underlying Portfolio holdings as of November 3, 2016, the Preferred Share dividend coverage ratio was approximately 2.5 times (x). The Company’s excess dividends, net of all expenses, may be distributed to the holders of the Capital Shares.
FBS.PR.C is tracked by HIMIPref™, but is relegated to the Scraps subindex on volume concerns. More information can be obtained via the company’s page maintained by its sponsor. With slightly less than 1.1-million Units outstanding, the fund is too small for investment on an active basis, but I track it anyway. The issue was last mentioned on PrefBlog when Timbercreek took over sponsorship of the fund.
This entry was posted on Tuesday, November 15th, 2016 at 12:24 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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FBS.PR.C Upgraded To Pfd-2(high) by DBRS
DBRS has announced that it:
FBS.PR.C is tracked by HIMIPref™, but is relegated to the Scraps subindex on volume concerns. More information can be obtained via the company’s page maintained by its sponsor. With slightly less than 1.1-million Units outstanding, the fund is too small for investment on an active basis, but I track it anyway. The issue was last mentioned on PrefBlog when Timbercreek took over sponsorship of the fund.
This entry was posted on Tuesday, November 15th, 2016 at 12:24 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.